Lender Alerts

HECM Standard and HECM Saver Loans Must Close by December 31, 2013
(Applicable to Correspondent Channel)

Dear Licensed Partner,

As you may be aware, Housing and Urban Development (HUD) through its Mortgagee Letter 2013-27 dated September 3, 2013, eliminated the HECM Standard and HECM Saver programs effective for case numbers issued on or after September 29, 2013. Additionally, HECM Standard or HECM Saver loans that have been assigned a FHA case number prior to September 29, 2013, must close on or before December 31, 2013.

Such HECM Standard and HECM Saver loans closed in compliance with Mortgagee Letter 2013-27 will continue to be eligible for purchase by Sun West.

If you have any questions, please contact your Account Executive at (855) OK-SUNWEST or (855) 657-8693.

This information is provided to licensed brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice.

Please Click Here or refer to www.nmlsconsumeraccess.org to see where Sun West Mortgage Company, Inc. (NMLS ID 3277) is a licensed lender and servicer.
We are not accepting applications from Georgia or Massachusetts residents or purchasing mortgages secured by Georgia properties at this time.
Please Click Here to view Texas Complaint Notice and Servicing Disclosure.